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, the united states transportation department plans to fine toyota $16.4 million for alleged safety violation thchlt has to do with when the federal government was notified about a potential problem with acceleration. the law is that they must be notified within five days and toyota said they notified them in a prompt fashion, but clearly this fine has to do with fact that toyota did not notify them quick enough, and they knew about the problems months before they took the steps necessary to notify the united states government. this is the largest fine against a automaker, and 16.4 million, that toyota failed to notify regulators promptly about the pedal defect, and it took them months, and you are supposed to do it within five days. >>> we saw the stock reacting as you were talking, phil, but it is now flat on the session. but certainly, as you were talking, we had a move from positive to negative, and now it is positive again, actually moving higher. >> huge implications here, maria, for the shareholders as far as opening up toyota for greater liability problems in terms of civil cases. thi
gadgets. on the ford side of things, you have ford benefiting from the mess at toyota. they have a phenomenal run, and alan mulally is doing everything right. i own for it the clients, but i don't know if i would add to the positions now, but if you have maalox and willing to take a risk, i am owning toyota at this point both for myself and clients. it is a little bit more of a gamble, but you are banking and banking that most of the bad news is baked into the stock price. >> well, it is a great point. of course, the first quarter has been better than expected on a lot of fronts, but we are waiting on evidence of end market demand, revenue growth, and are you seeing that? >> in places we are seeing the revenue, but it is one of the things coming stock by stock and we know that the auto market is stronger than you would expect, and the same with technology if you see what twe get out of apple and not so much nokia. we know that palm is not doing so well, but radio shack is pulling out of that. you have to pick and choose your places. i am not buying the market as a whole, but the
beau broke the story. >> not only general motors, but the toyota recall announced in the last minute. first to general motors as we reported an hour ago, they plan to pay off the remainder of the government loan it took out from the u.s. and canadian governments when it exited from bankruptcy much sooner than planned. originally the company said that it planned on paying these off by june 1st, but now we are told that the remainer of the $6.7 billion and $4.7 billion to the u.s. government will be paid off well before june 1st, and we will see the timing within the next week. and they will pay $1 billion to the canadian government and be free and clear to the debt obligation to the two governments, and ed whitacre, jr., will announce the payback at a plant in kansas city. they borrowed $30 billion coming out of bankruptcy, but only $6.7 billion had to be repaid and this will fulfill gm's obligation in that return. now, talking about toyota, in the last minute they have announced that i are recalling 9400 models, of the gx 60s which is the model they followed last week of reports not the buy
that toyota may report an operating profit of 40 billion yen. and that is 2.5 times what they originally forecast coming on the back of reduced costs and weaker yen. >>> well, our next guest is seeing signs is of exhaustion in risk appetite. he is now seeing a one-month lag between the baltic index, and selected commodities. this could in turn result in a decline in commodity currencies versus the u.s. dollar. for more on the decline of the baltic index, we bring in the chief market strategist with cmc markets. always good to have you on the program, and welcome back. >> thank you for having me, maria. >> let's talk about the correlation by tween the baltic dry index and commodities and what does it tell you and why is this index so critical from your standpoint? >> yes, maria, the baltic dry index is a cost of shipping goods, and materials and non-fuel, but we have to be careful before we talk about it further. we have to say that the cost of these ships is not only a factor of the demand, but also of the supply and of the availability of ships, but having said that, this cost as we hav
higher. >>> incentive war led by toyota helping increasing sales. we'll fill you in on the numbers. >>> let's look at how the market finished for a week. prime merica went public. they're ringing the closing bell. they certainly did create a lot of spark of excitement down here. accelerating at the close. no down we saw money moving into the market in the afternoon hours. it was stronger at the open, gave up much of the games. 10,927 last trade on the blue chip average. nasdaq was also high ir, fractional move there. >> a little more volatility we've. that's a good thing, up as much as -- and let's look at the positive points here today in the first trading day of the zk. pricing their ipo, and
bell." i'll phil lebeau with breaking news from toyota. cnbc has confirmed that cnbc will suspend production of the lexus 4g at the point where it is built in japan. they stop production of the lexus gx 460 as they test the electronics on the suv. the tentative plan to rejum on april 28th, but between tomorrow and april 28th, the production of the lexus gx 460 will stop. simon, back to you. >> thank you, phil, with that breaking news. there is an election in the british government, and so desperate is the politician to save himself, that the uk became overreliant on the pound. separately, gordon brown spent time doubling the british health service which is structural spending which is hard to cut. and that lethal combination will leave the uk with a budget deficit greater than any country on earth, and 13% of gdp, and because britain is not in the euro zone, the pound is fully exposed to take the strain of repricing uk debt to make it attractive. in fact, the pound is down 7% since august. some say it is undervalued and bears predict that it will be $1.30 by the end of the year wh
Search Results 0 to 5 of about 6

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